Lishui-based Nice Group launches 100b yuan development plan

chinadaily.com.cn| Updated : Dec 4, 2020 L M S

The Lishui-based Nice Group Co, Ltd, one of the leaders of China's household cleaning products industry, announced a 100-billion-yuan ($15.29 billion) corporate development plan on Nov 10, according to a company spokesman.

The plan will involve the diversified restructuring of the group, which will transform from its traditional area of operations into becoming an enterprise spanning the primary, secondary and service industries, he said.

From raw materials planting to cosmetics and industrial tourism, Nice will expand into various new sectors to bring more business opportunities to its upstream and downstream industrial partners, the spokesman said.

At the start of the year, Nice opened its first overseas factory in Angola, where it became the first Chinese-funded chemicals production enterprise in the African country.

Under the national "dual circulation" economic strategy in which domestic commerce is the mainstay, with the domestic and international trade reinforcing each other, Nice will strive to expand its activities in the environmentally friendly market, according to Hu Zhengyu, director of the company's ecological development division.

Nice Group says it has the only liquid detergent on the market with a national patented formula, the raw material of which is natural coconut oil. It has low foam and is easy to rinse. The company says it can save more than one-third of the water used in household cleaning.

"Nice has been working on natural materials from a very early age and natural materials can also be freed from dependence on petroleum resources, with more controlled sources and costs," said Zhang Lei, head of the Hangzhou Institute of Nice Group.

Last year, high value-added products accounted for more than 80 percent of the company's output value, the company spokesman said.